Esmark's ID - How does American company which wants to buy Zelezara opearate?

(Photo: zelsd.rs)

The American company Esmark, which confirmed it is interested in the takeover of Zelezara Smederevo and that it will apply for a tender which is underway, is one of the leading processors and distributors of flat-rolled steel and the third producer of steel plates in USA, Tanjug reports.

Over the years, Esmark has diversified its interest and business, focusing on a few key industrial branches such as steel production, oil and gas exploration, airline services, real estate, technology and sports management, it was written at the company’s webpage.

Its founder, CEO and the president is James Bouchard, who is also a successor and a control shareholder at the Bouchard Group, set up in 1995 with the initial capital of USD 500 and where he still has a 100% stake with his wife, Caroline.

Esmark is a privately-owned, family company and over the years it has expanded business in a few branches. Now, apart from steel production, the company is focused on a few industrial fields – oil and gas exploration, airline industry, real estate and technology.

Esmark’s decision to participate at the tender for Smedervo-based steel plant came after yesterday’s talks between the Prime Minister Aleksandar Vucic and Bouchard in London which were estimated as extremely productive and usefy”.

Esmark has already set u the management team with, as it was announced, an extensive experience on the tasks in Europe which, as it was stated, also worked of the revitalization of Kosice-based US Steel.

Smederevo-based Zelezara today produces 380.000 tons of steel and the production is expected to increase to 2,2 m tons.

Before as well as after the talks with Bouchard, the Prime Minister said the news on privatization of Zelezara will be good not only for the employees in Smederevo but for the whole Serbia.

At one of the press conferences before his visit to London, Vucic said that if the agreement on privatization is reached, it will be appropriately celebrated.